WALNUT CREEK, Calif. – Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that Center for Elders' Independence (CEI) has signed a lease at Meridian's recent medical office conversion, "Broadway Medical Plaza." The ±60,000-square-foot newly repurposed medical office building is located in the Pill Hill area of Oakland, California. CEI will occupy 23,000 square feet in the project and is a "PACE" provider serving seniors living in the East Bay.
"We are thrilled to be expanding our services into the Pill Hill area, and the newly renovated Broadway Medical Plaza is the perfect fit for us," said Maria Zamora, CEI President and CEO. "PACE stands for Program of All-Inclusive Care for the Elderly and focuses on helping people to live independently as they age and helps people meet their health care needs in the community. This will be our sixth location in the Bay Area, and we cannot wait for construction to get underway."
Located at 3901 Broadway, Broadway Medical Plaza was a former assembly hall, located within blocks of the UCSF Benioff Children's Hospital, Sutter Health, and Kaiser medical campuses. Meridian acquired the 1.25-acre site and building in 2022 with the intent to convert it into a 60,000-square-foot state-of-the-art medical facility along with a brand-new parking structure.
"As soon as we toured this building, we knew it had the bones to repurpose for medical space," said Meridian CEO, Mike Conn. "It had great zoning and infrastructure, including the ability to house an ambulatory surgery center as well as the footprint to construct a 220-stall parking garage. We recently wrapped up construction of the shell and are eager to complete the CEI buildout."
Conn continued, "To activate the main thoroughfare and create an enhanced patient experience, a significant portion of the concrete exterior envelope was replaced with a glass curtain wall, metal panels, and plaster finishes. All new base building systems were installed, including two new elevators and a state-of-the-art, highly efficient HVAC system. We also added an elevator tower appendage onto the building to provide ADA accessibility to the upper floors. Additionally, the structural system was upgraded to Seismic Lateral Resistance (SLR) IV to meet the high demand of health care systems and providers. The stand-alone precast concrete 220-stall parking structure was also recently completed to support tenant parking needs and security for patients and staff. We couldn’t be happier with how everything turned out."
CEI will be occupying ±23,000 square feet of the building, accounting for 38% of its overall leasing space. "We are so excited to be the first tenants in this space and are looking forward to bringing our services to this community. PACE is a health plan designed exclusively for seniors, age 55 and older, dealing with multiple health challenges. Having a CEI facility close to home will change countless seniors' lives, and we get to do just that at Broadway Medical Plaza," said Zamora.
"We have approximately 37,000 square feet still available for lease, including a full floor," said Meridian Director of Asset Management, Heidi Duffy. "The building is fully outfitted for all types of medical care and is currently the largest block of contiguous medical space available in the Oakland/I-880 submarket.' For more information, please contact Heidi at hduffy@mpcca.com.
Sid P. Ewing of Colliers International, Senior Vice President and Healthcare Fellow, represented Meridian in the lease transaction, and Douglas Hubert and Steve Polito of Sabre Real Estate Group represented CEI. Construction for CEI is underway and expected to be completed in the spring of 2025.
Meridian owns and manages healthcare properties throughout the United States and continues to aggressively pursue acquisitions and developments. Meridian is primarily focused on opportunistic repurposing, value-add, core plus, and build-to-suits with major healthcare systems and physician partners.
About Meridian
Founded in 1999, Meridian is a full-service real estate developer and investor specializing in high-quality, brand-enhancing healthcare and life science developments. Meridian’s services are broad in scope, but meticulous in detail -- from site evaluation and land acquisition to entitlement and planning to construction management. For more information, see www.mpcca.com.
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Company Name: Meridian
Contact Person: Anne Monaghan | Monaghan Communications
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Phone: (925) 302-1400
Address:2121 North California Blvd. Suite 290
City: Walnut Creek
State: California
Country: United States
Website: https://mpcca.com/
